Greywolf Grabs A Chunk of Cumulus Stock


Back in September 2016, some 14 months before voluntarily entering Chapter 11 bankruptcy protection, Cumulus Media attempted to save its shriveling stock price and move it out of the penny category by engineering a 1-for-8 reverse stock split.

At the time, “Greywolf Event Driven Master Fund” was shown as holding 5.5% of the company’s shares.

The wolf is howling again, and this time the registered investment adviser with approximately $3.8 billion in assets under management allocated “across our Distressed, Event Driven and CLO Credit Strategies” is taking another big bite of Cumulus stock.

Please Login to view this premium content. (Not a member? Join Today!)